BBSI reports Q3 net income $17.4M ($2.45 EPS), revenue up 11%; raises full-year outlook

BARRETT BUSINESS SERVICES INC

2022-Q3 EPS reported $4.91 revenue$782,376,000

Net income $17.4M ($2.45 diluted EPS) vs $14.9M ($1.96) in Q3 2021; revenue $273.8M (+11% YoY).
Gross billings rose 13% to $1.91B; average worksite employees up 8%.
Company raises full-year 2022 outlook citing positive sales trends and client hiring resilience.
Quarterly dividend of $0.30 per share declared, payable Dec 2, 2022 to holders of record Nov 18, 2022.
CEO Gary Kramer notes successful launch of new health benefits offering in select markets for January 2023.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BARRETT BUSINESS SERVICES INC reported third quarter ended September 30, 2022 results: revenue $273.8 million, net income $17.4 million, EPS $2.45 per diluted share. Guidance raised.

Period: third quarter ended September 30, 2022
Revenue: $273.8 million
Net income: $17.4 million
EPS: $2.45 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Third Quarter 2022 Financial Summary vs. Year-Ago Quarter • Revenues up 11% to $273.8 million. • Gross billings up 13% to $1.91 billion. • Average worksite employees (“WSEs”) up 8%. • Net income up to $17.4 million, or $2.45 per diluted share, compared to $14.9 million, or $1.96 per diluted share.

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Source: SEC EDGAR

accession 0000950170-22-021243

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